SOIL ACTIVE HERBICIDES MARKET ANALYSIS

Soil Active Herbicides Market Size and Trends

The soil active herbicides market is estimated to be valued at USD 7.30 Bn in 2024 and is expected to reach USD 10.55 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.

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The soil active herbicides market is expected to witness positive growth over the forecast period. The major factors influencing the growth of this market include rising demand for high-quality crops and increased emphasis on boosting agricultural productivity. As population growth continues to rise globally, the demand for food grains and other agricultural commodities is also increasing. This is propelling the use of advanced agrochemicals such as soil active herbicides to maximize crop yields. Additionally, growers are actively adopting precision farming techniques and effective weed management solutions to minimize crop losses. Leading manufacturers are also engaged in new product launches and expansion of their production capacities to cater to the growing demand from the agricultural sector. For instance, investments in the development of herbicide-resistant crops are expected to further drive the demand for compatible soil active herbicides.

Population growth and rise in food demand

As the global population reaches new heights, the demand for food grows exponentially each year. According to UN estimates, the world population is expected to grow from around 7.7 billion to over 9.7 billion by 2050. This surge in population size poses a massive challenge for global food security. Countries will need to ramp up agricultural productivity at an unprecedented rate just to meet the basic calorie needs of the growing population.  However, increasing food production is no easy feat. Arable land is scarce and other constraints like water scarcity limit expansion of agricultural lands. At the same time, effects of climate change like erratic weather patterns and increasing pest infestation threaten crop yields. In such a scenario, crop protection products like soil active herbicides play a vital role in maximizing harvests from available farmland. Herbicides help farmers control weeds that compete with crops for nutrients, water, and sunlight. By eliminating weeds, herbicides can increase crop yields significantly. Some studies have shown that weed control with herbicides can boost yields by as much as 20-40%.  Thus, with mounting pressure to boost global agricultural output, the demand for crop protection solutions will only intensify in the coming decades. Soil active herbicides, with their ability to boost farm productivity multi-fold, are likely to witness growing adoption. Leading players in the herbicide market will focus on developing more effective weed control formulations and mechanisms that can help farmers everywhere address the formidable challenge of satisfying the world's growing food demands.

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Technological Advancements and Precision Farming

Advancements in agriculture technologies are revolutionizing farming practices around the world. The rising adoption of precision farming techniques allows for more targeted and efficient use of agricultural inputs like seeds, fertilizers, and crop protection chemicals. Precision farming relies on geo-tagging, variable rate technology, and remote sensing to gather field data and customize application of farm inputs for unique field and soil conditions. When it comes to herbicides, precision technologies enable more nuanced weed control strategies. Variable rate applicators allow farmers to variably dose herbicide spray across a field based on spatial variability in weed pressure. Satellite imagery and sensors help map weed distribution for more selective spraying only in infested areas. Geo-tagging and tracking of spray records facilitate audits and compliance with regulations.